Allianz provides coverage for most major cruise lines catering to Americans, including Carnival, Norwegian, Royal Caribbean, Viking and others. The full list of covered suppliers can be found here.
"A Known Event"While insurers say that not being on a list doesn't necessarily count as a vote of non-confidence against the financial health of a company, having it removed doesn't inspire confidence for the traveling public. This is particularly true at a time when cruisers are in need of reassurance that their cruise vacation deposits are sound."Our travel protection plans typically cover unforeseen covered reasons that result in trip cancellations or interruptions, travel delays, medical emergencies, and more, subject to the plan's terms, conditions and exclusions," an Allianz spokesperson told Cruise Critic in an email. "Certain plans include a specific covered reason for trip cancellation/interruption due to the customer's travel supplier ceasing all operations due to its financial condition. One of the conditions for that covered reason is that the supplier must have been included on our Covered Supplier List as of the customer's plan's effective date."Essentially, customers would be covered for trip interruptions and cancellations on the affected cruise lines -- but not for a situation where the line goes bankrupt.The company's guidance regarding the COVID-19 coronavirus outbreak also provides a look into what is known in the insurance industry as "a known event."
"Travel insurance is intended to cover losses arising from sudden and unforeseeable circumstances," notes a statement on the Allianz website. "Any claims resulting from events known to you when purchasing your insurance are not covered."When an event becomes "known" is largely at the discretion of the insurance provider. In the case of Allianz, it considered COVID-19 to be a known event as of March 11, 2020. Individuals who purchased insurance before this date would have their trips covered if they were canceled due to coronavirus.Travelers purchasing insurance on or after that date would not be covered in the event of a COVID-19-related cancellation.